Why A South Korean Shipbuilding Giant Chose Superior, Wisconsin
Fraser Shipyards in Superior, Wisconsin, has been in business for 138 years. The shipyard is used to repair ships on the Great Lakes and also builds new boats. About half of its business is in ship repair and maintenance, while the other half is building new vessels. A recent partnership with HD Hyundai will turn the shipyard into a demonstration model of shipbuilding in the future for the U.S.
HD Hyundai Partners With Fraser Shipyards
HD Hyundai is a South Korean shipbuilding giant. They spent over 6 months evaluating an analyzings shipyards across North America before they selected Fraser as a partner.
Why Fraser?
They picked Superior because of the available expansion acreage, workforce, and electrical and natural gas infrastructure. Fraser employs about 600 workers during the busiest winter repair season from January to March. At the end of the busy season, Fraser releases about 400 skilled workers. New shipbuilding investments could mean more year-round jobs for welders, electricians, and pipe fitters. There's a shortage of these workers in the United States, but Fraser has those skilled people in the area.
Big Expansions Planned For Fraser
MarineLink recently did a story on Fraser's partnership with HD Hyundai. They called HD Hyundai a catalyst for growth and interviewed Patrick Kelly, the CEO of Fraser Shipyard. Kelly expects that over the next two years, we could see a 100,000-sq.-ft expansion facility, and eventually a larger production center for Navy Vesseles. Besides Superior, he sees the potential for expanding to other Great Lakes locations.
Room For Growth
Fraser Shipyards has the acreage needed to expand. Currently, they only utilize about 15 acres of the available 85 acres on the waterfront. This will likely be changing in the coming months.
Read More: Immersive Titanic Exhibit In Minnesota For Limited Time
Why Shipbuilding Is So Badly Needed In The US
The US Naval Institute warns that the US needs to improve its shipbuilding capacity in order not to fall behind key competitors like China. China's shipbuilding industry far outpaces the United States, and if there were to be a long, sustained conflict, the US currently can't compete.
